Tenaris (NYSE:TS) Price Target Raised to $50.00

Tenaris (NYSE:TS) had its price objective upped by Barclays from $48.00 to $50.00 in a research note released on Monday morning,Benzinga reports. The brokerage currently has an overweight rating on the industrial products company’s stock.

A number of other brokerages have also recently weighed in on TS. Piper Sandler began coverage on shares of Tenaris in a report on Thursday, December 19th. They issued an “overweight” rating and a $48.00 price objective for the company. StockNews.com upgraded shares of Tenaris from a “hold” rating to a “buy” rating in a research note on Thursday, February 20th. Bank of America cut Tenaris from a “neutral” rating to an “underperform” rating in a research note on Wednesday, January 29th. Kepler Capital Markets cut Tenaris from a “buy” rating to a “hold” rating in a research note on Friday, January 17th. Finally, Stifel Nicolaus raised their price objective on shares of Tenaris from $40.00 to $43.00 and gave the company a “buy” rating in a report on Friday. Two analysts have rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. According to MarketBeat, Tenaris currently has an average rating of “Hold” and a consensus target price of $45.60.

Tenaris Stock Performance

TS opened at $37.62 on Monday. The stock has a market capitalization of $21.87 billion, a PE ratio of 10.42 and a beta of 1.44. Tenaris has a one year low of $27.24 and a one year high of $40.72. The business’s 50 day moving average price is $38.31 and its 200 day moving average price is $34.64.

Tenaris (NYSE:TS) last announced its earnings results on Wednesday, February 19th. The industrial products company reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.31. The company had revenue of $2.85 billion during the quarter, compared to analyst estimates of $2.71 billion. Tenaris had a net margin of 16.26% and a return on equity of 11.76%. As a group, equities research analysts forecast that Tenaris will post 3.14 earnings per share for the current fiscal year.

Tenaris Increases Dividend

The firm also recently disclosed a semi-annual dividend, which will be paid on Wednesday, May 21st. Shareholders of record on Tuesday, May 20th will be given a dividend of $0.56 per share. This is an increase from Tenaris’s previous semi-annual dividend of $0.54. The ex-dividend date is Tuesday, May 20th. Tenaris’s dividend payout ratio (DPR) is presently 31.02%.

Hedge Funds Weigh In On Tenaris

Institutional investors have recently added to or reduced their stakes in the stock. Exencial Wealth Advisors LLC lifted its position in Tenaris by 0.5% in the fourth quarter. Exencial Wealth Advisors LLC now owns 50,404 shares of the industrial products company’s stock valued at $1,905,000 after purchasing an additional 270 shares during the period. Allspring Global Investments Holdings LLC raised its stake in shares of Tenaris by 36.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,420 shares of the industrial products company’s stock worth $45,000 after buying an additional 377 shares in the last quarter. Silvercrest Asset Management Group LLC lifted its holdings in shares of Tenaris by 0.4% in the 4th quarter. Silvercrest Asset Management Group LLC now owns 97,796 shares of the industrial products company’s stock valued at $3,696,000 after buying an additional 386 shares during the period. Signaturefd LLC boosted its stake in shares of Tenaris by 2.3% in the fourth quarter. Signaturefd LLC now owns 18,647 shares of the industrial products company’s stock valued at $705,000 after buying an additional 418 shares in the last quarter. Finally, Covestor Ltd boosted its stake in shares of Tenaris by 37.2% in the fourth quarter. Covestor Ltd now owns 1,729 shares of the industrial products company’s stock valued at $65,000 after buying an additional 469 shares in the last quarter. Institutional investors and hedge funds own 10.45% of the company’s stock.

Tenaris Company Profile

Tenaris SA, together with its subsidiaries, produces and sells seamless and welded steel tubular products and related services for the oil and gas industry, and other industrial applications. The company offers steel casings, tubing products, mechanical and structural pipes, line pipes, cold-drawn pipes, and premium joints and couplings; and coiled tubing products for oil and gas drilling and workovers, and subsea pipelines.